Treasury

Treasury

US Department of the Treasury, which issues all Treasury bonds, notes, and bills as well as overseeing agencies. Also, the department within a corporation that oversees its financial operations including the issuance of new shares.

Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Treasury

1. The department of the federal government responsible for the printing of money, the collection of taxes, the regulation of banks, and the management of public debt. Created in 1789, the Treasury issues Treasury securities, which is debt that the American government uses to pay for some of its functions. It also administers the Internal Revenue Service, which collects taxes and decides how tax laws and regulations are enforced, and the U.S. Mint, which prints and disburses currency. The Treasury Department is responsible for investigating and prosecuting certain financial crimes, such as tax evasion and counterfeiting. It is headed by the Secretary of the Treasury, who is appointed by the President with the consent of the Senate.

2. See: U.S. Treasury Security.

Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

treasury

1. the department within a firm which is responsible for managing the firm's finances, making arrangements to collect cash speedily from debtors; profitably invest any short-term cash surpluses; and arrange with lenders to cover any short-term cash shortages. In large multidivisional companies the treasury department may also arrange to transfer cash from company divisions earning surpluses to divisions experiencing liquidity problems so as to minimize external borrowings. In MULTINATIONAL ENTERPRISES the treasury department may also transfer funds between countries and convert currencies in order either to minimize the risk of losses or to take advantage of possible windfall gains from EXCHANGE RATE changes.
2. the Treasury, the UK government department responsible for managing the government's finances, authorizing the expenditure plans of government DEPARTMENTS, and overseeing the tax-gathering work of the INLAND REVENUE and CUSTOMS AND EXCISE. In addition the Treasury advises the Chancellor of the Exchequer on the government's annual Budget. See BUDGET (GOVERNMENT).

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

Treasury

the UK government department responsible for managing the government's finances, authorizing expenditure plans for various government departments such as Health, Education and Defence, and overseeing the tax-gathering work of the INLAND REVENUE and CUSTOMS AND EXCISE. In addition, the Treasury prepares forecasts of future economic activity levels and advises the CHANCELLOR OF THE EXCHEQUER on the government's annual budget.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005